914,003 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Purchased by Hood River Capital Management LLC

Hood River Capital Management LLC acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 914,003 shares of the company’s stock, valued at approximately $35,472,000. Hood River Capital Management LLC owned about 0.55% of Revolution Medicines as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Revolution Medicines by 8.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,795,421 shares of the company’s stock valued at $51,496,000 after purchasing an additional 133,558 shares during the period. Principal Financial Group Inc. increased its stake in Revolution Medicines by 22.8% in the 4th quarter. Principal Financial Group Inc. now owns 30,194 shares of the company’s stock valued at $866,000 after buying an additional 5,614 shares during the period. Norges Bank purchased a new position in Revolution Medicines during the 4th quarter worth $8,079,000. UBS Group AG raised its position in Revolution Medicines by 215.5% during the 4th quarter. UBS Group AG now owns 306,558 shares of the company’s stock worth $8,792,000 after buying an additional 209,399 shares during the last quarter. Finally, Finepoint Capital LP lifted its stake in shares of Revolution Medicines by 44.5% in the 4th quarter. Finepoint Capital LP now owns 617,100 shares of the company’s stock worth $17,698,000 after acquiring an additional 190,100 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Oppenheimer boosted their price target on shares of Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. JPMorgan Chase & Co. cut their target price on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. HC Wainwright reissued a “buy” rating and issued a $56.00 price target on shares of Revolution Medicines in a report on Monday, August 12th. Bank of America upped their price objective on Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Wedbush reiterated an “outperform” rating and issued a $59.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 8th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $53.45.

Insider Transactions at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 10,000 shares of Revolution Medicines stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $45.88, for a total transaction of $458,800.00. Following the completion of the sale, the insider now owns 311,885 shares in the company, valued at approximately $14,309,283.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Revolution Medicines news, insider Mark A. Goldsmith sold 25,000 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $45.05, for a total value of $1,126,250.00. Following the completion of the transaction, the insider now directly owns 311,885 shares in the company, valued at approximately $14,050,419.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $45.88, for a total value of $458,800.00. Following the sale, the insider now owns 311,885 shares in the company, valued at approximately $14,309,283.80. The disclosure for this sale can be found here. Insiders sold a total of 58,221 shares of company stock valued at $2,629,277 over the last three months. 8.00% of the stock is currently owned by insiders.

Revolution Medicines Stock Down 1.6 %

Revolution Medicines stock opened at $45.42 on Monday. The firm’s 50-day simple moving average is $43.98 and its 200 day simple moving average is $39.24. The firm has a market capitalization of $7.49 billion, a PE ratio of -12.11 and a beta of 1.43. Revolution Medicines, Inc. has a 52 week low of $15.44 and a 52 week high of $48.61.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $0.81 million. Revolution Medicines’s revenue was down 73.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.92) EPS. On average, research analysts expect that Revolution Medicines, Inc. will post -3.47 EPS for the current fiscal year.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.